Austin Number Eight City for Millennial Entrepreneurs

Posted by Regent Property Group on
Tuesday, October 20th, 2015 at 10:52am.
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Austin was named the eighth best city in the nation for millennial entrepreneurs by Thumbtack, which surveyed “the friendliness of local tax laws, licensing rules, and the regulatory environment” to prepare results comparing the friendliness of small business climates in United States cities and states. In addition to Austin’s ranking, Texas was named the top state in the nation for its friendliness to small business.

According to the U.S. Chamber of Commerce, over a quarter of young people are self-employed and launching over 160,000 startups per month. It was partly survey responses from this group - entrepreneurs aged 34 and under - that helped determine the rankings.

Birmingham was the top U.S. city for millennial entrepreneurs, followed by Boise, Boulder, Nashville, Manchester, Charleston, Knoxville, Austin, Durham, and Richmond.

Austin received an overall friendliness rank (for all ages) of fourth in the nation.

From survey responses from 18,000 small business owners of all ages nationwide, the small business climates in Manchester, Dallas, Richmond, Austin, and Knoxville received the highest ratings, while Providence, New Haven, Buffalo, Albuquerque, and Hartford received the lowest ratings.

Texas was followed by New Hampshire, Utah, Louisiana, and Colorado. The worst states, according to Thumbtack ratings, were Rhode Island, California, Connecticut, Illinois, Massachusetts, Maryland, and New York.

Texas and Utah have ranked in the top five states every year the survey has run, while California and Rhode Island have always ranked in the bottom five.